S&P 500 weekly technical analysis for 7 to 11 march 2016

S&P 500 index this week closed at 1999 with gain. This was third gaining week for this index. In these week prices rallied from low of 1870 to almost high above 2000. 130 points or almost 7% recovery for market in very short time. Trend and momentum both are strong bullish. S&P 500 had achieved my given target of 1993 and now heading for next target of 2050+. Which can be expected in next 1 to 3 weeks’ time frame. This strong reversal recovery phase will turn into another bull market above 2015 on monthly closing basis. On upside expect technical targets of 2160 and 2280 till end of 2016.

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